CEO Update – September 2024

Earlier this month, the Australian Steel Institute held its annual convention. 

The theme this year was What It Takes: sustainable building and infrastructure, and I was honoured to be asked to speak.  

There were two challenges that I spoke to. The sustainability of the steel industry and the part InfraBuild is playing, as well as sustaining a steel industry in Australia. 

The global steel industry contributes to around 8% of the world’s total carbon emissions.  

As an electric arc furnace-based steel manufacturer, we have ambitions to be carbon neutral by 2030. 

Our emission reduction ambitions are focused in two main areas, firstly, lowering our carbon emissions by sourcing renewable energy for our electric arc furnaces, substituting natural gas by lower emission gases such as hydrogen, substituting coke with biochar solutions and by improving energy for our steel making process to reduce C0₂. 

Secondly, through efficiencies in our products. Our new SENSE 600® reinforcing bar is one such example. It uses up to 16.7% less raw material than our existing grade 500N reinforcing bar and is made from scrap metal. It also delivers a lower embodied carbon solution of up to 39%, than our 500N reinforcing steel. 

The other challenge we face is how does Australia continue to sustain a strong local steel industry, particularly as steel makers seek to decarbonise. 

Each year Australia produces more than 5 million tonnes of steel. This supports a supply chain that includes more than 300 distribution outlets and over 2,000 fabrication businesses, all vital to sustaining the sector.  

Collectively, the steel industry employs more than 114,000 people and contributes a staggering $44+ billion to the economy. 

Continuing Australia’s legacy as a steelmaking nation requires increased determination, dedication and innovation in the face of adversity.  

While the steel industry goes through its sustainability transformation over the coming years, it is also important that the long-term future of our domestic industry is also sustained. 

As one of Australia’s only long-steel manufacturers, with a workforce of more than 4,500 Australia-wide, more than 17,400 wholesale and retail customers, and ambitions to be carbon neutral, it is important we also stand up for and continue to use our voice supporting local manufacturing and the local steel industry.  

All the best and stay safe, 

Francisco Irazusta 
CEO, InfraBuild